Oracle Goes Shopping, More Drug Drama and BNP Paribas Has a Tres Big Fine to Pay

What a bargain…

Image courtesy of KROMKRATHOG/

Image courtesy of KROMKRATHOG/

Oracle spent a few bucks today. Actually a billion bucks today. The company that is now making a big push towards cloud services just picked up Micros Systems for $5.3 billion or about $68 per share. It was Oracle’s biggest shopping day since 2010 when it scooped up Sun Microsystems. Micros Systems makes technology for the hospitality and retail industries, two sectors in which I don’t spend nearly enough money. The move caused shares of both companies to go up a teeny bit. But every little bit helps. Especially for Oracle who just released earnings on Thursday and disappointed Wall Street analysts by earning just $.80 per share instead of a much hoped for $.83 per share. Oh well.


Image courtesy of patpitchaya/

Image courtesy of patpitchaya/

As we return to the Valeant/Allergan pharmaceutical saga, Allergan has been urging shareholders to reject Canadian based Valeant’s insulting $53 billion bid. Really, if you’re going to try and buy the company that makes Botox you better bring it. Allergan is eager to point out that a hostile takeover like that is simply not in the best interest of the company, especially for the board members who will no doubt be booted from their positions if this takeover does indeed transpire. Partnering with Valeant on this bid is activist investor Bill Ackman of Pershing Square Capital Management who already made an offer for the company back in April. According to Allergan’s board members that $53 billion figure seriously undervalues the company – and not just any company but the company responsible for freezing many celebrity faces.

And that’s what you get…

Image courtesy of suphakit73/

Image courtesy of suphakit73/

Looks like French bank BNP Paribas is about to get slapped with a nasty little fine to the tune of almost $10 billion. But don’t feel so bad for them considering they were helping out Iran, Sudan and other countries led by people who have no sense of humanity. It’s rumored the bank will plead guilty for having violated US sanctions by hiding about $30 billion in transactions. The bank allegedly violated the International Emergency Economic Powers Act. That basically means they very nicely assisted very evil people to do very bad business. BNP Paribas is the second major European bank to plead guilty this year. Credit Suisse pled their guilt a few months ago and coughed up a $2.6 billion fine for hiding US assets from the IRS.

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